Grocery Convenience Store with Food-Service
2821 S Hill Road, Gladstone, MI 49837
For Sale
$324,900
Under Contract
COM/IND/BUS OPP, Gladstone, MI
Property Size2,584 SF
Lot Size0.26 Acres
Price / SF$125.74
Days on Market182
Property Features for 2821 S Hill Road
General Information
Property type
Property subtype
Zoning
Zoning description
Parking features
Subdivision
Lot features
Standard status
Size
Lot size
Taxes and HOA fees
Tax Year
Tax Annual Amount
Utilities
Heating system
Cooling system
Water source
Amenities
large cooler space
separate kitchen/prep area
separate entrance
large storage/bathroom
office
Building Details
Year built
Roof type
Listing Agency:
PREMIER REAL ESTATE, INC.
(906) 786-5030
Listed By:
LORI RYMKOS
(906) 280-3165
Added: May 15
Changed: Oct 13
Last Checked: Nov 12 at 8:06AM
MLS# 50207974
Copyright © 2026 Upper Peninsula Association of Realtors. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
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Investment Insights
Based on property information with market context.
Built in 1997, this 2,584-square-foot commercial building previously operated as a grocery, liquor, and convenience store. The layout includes large cooler space, a separate kitchen and preparation area with its own entrance, storage, a bathroom, and an office. Past merchandise included groceries, beer, wine, liquor, lottery products, and convenience items. Forced-air heat, central air, public water, and an asphalt roof serve the building.
The property occupies 0.26 acres at 2821 S Hill Road in Gladstone, Michigan, at the corner of two roads. A parking lot provides off-street parking. The separate food-service area can accommodate preparation for offerings such as pizza, subs, deli items, ice cream, or coffee, subject to applicable approvals and requirements.
The property occupies 0.26 acres at 2821 S Hill Road in Gladstone, Michigan, at the corner of two roads. A parking lot provides off-street parking. The separate food-service area can accommodate preparation for offerings such as pizza, subs, deli items, ice cream, or coffee, subject to applicable approvals and requirements.
Key Highlights
- 2,584‑square‑foot commercial building on 0.26 acres
- Former grocery, liquor, and convenience store operation
- Large cooler space plus separate kitchen and preparation area
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$22,275
Cap Rate
6.86%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,500
$445.5K
Cap Rate 7%
$318,214
$318.2K
Cap Rate 9%
$247,500
$247.5K
Market Conditions
NOI Build-Up for 2,584 SF
Gross rent
$38.8K $15.00/SF
− Vacancy
−$6.9K −$2.69/SF
EGI
$31.8K $12.32/SF
− OpEx
−$9.5K −$3.69/SF
NOI
$22.3K $8.62/SF
Area
Delta County, MI
Vacancy
17.90%
Lease Rate
$15.00 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$445,500
Cap Rate 7%
$318,214
Cap Rate 9%
$247,500
Alternative Uses
Best Use
Specialty Retail
$485.4K
$424.7K – $566.3K
NOI $33,977 @ 7.0% cap · market cap 10.46%
Second Best
Retail
$318.2K
$278.4K – $371.3K
NOI $22,275 @ 7.0% cap · market cap 6.86%
Theoretical Best
Office A
$505.8K
$442.6K – $590.2K
NOI $35,409 @ 7.0% cap · market cap 10.90%
Zoning and permitted uses should be independently verified with authorities.
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Property Analytics
Who owns this building?
See the owner, sales and loan history
Open Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
74
Businesses Nearby
26k
Monthly Visits Nearby
Under-served
Demand for This Use
Explore this area
Business Placement
Foot Traffic Nearby
Dining 76%
Shops & Services 24%
McDonald's
Dining
16,083 visits/mo
0.4 miles
Mobil
Shops & Services
6,175 visits/mo
0.4 miles
SUBWAY
Dining
2,480 visits/mo
0.3 miles
Domino's Pizza
Dining
1,048 visits/mo
0.3 miles
Demographics for 49837, MI
10,086
Population
4,488
Households
2.2
Avg Household Size
48
Median Age
24%
College-Educated
95%
High-School Grad
69.0 sq mi
ZIP Area
146
Density / Sq Mi
$65,905
Median Household Income
$35,156
Median Earnings
$782
Median Rent
$145,300
Median Home Value
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Market
Vacancy Rate% for Retail in Midwest region
Frequently Asked Questions
What type of property is this?
Grocery and convenience store - Commercial building with cooler capacity, food-preparation space, office area, and dedicated customer access.
Where is this grocery and convenience store located?
The property is located at 2821 S Hill Road Gladstone, MI.
What is the asking price?
The asking price for this property is $324,900.
What are key features of this property?
This property features: 2,584‑square‑foot commercial building on 0.26 acres; Former grocery, liquor, and convenience store operation; Large cooler space plus separate kitchen and preparation area
